This blog is related to the previous blog post of “Setting Aside Fraudulent Transfers” as it relates to a creditor’s efforts to recover from a dissolved corporation or dissolved LLC. Setting Aside Fraudulent Transfers Part I: What to look for when going after officers or successor company discussed how a […]
You have a claim against a corporation and/or its officers, but you find out that the corporation is dissolved and there is a successor corporation in its place that appears to be essentially the same corporation. Now what? In Bernard v. Kee Mfg. Co., Inc., Florida’s Supreme Court adopted the […]
When purchasing a business, prospective buyers must take extreme care to ensure they are not also assuming the liabilities of that business. Florida follows the traditional corporate law rule which generally does not impose the liabilities of a predecessor business on a successor business. However, that rule is not absolute and exceptions exist that may result in a purchaser becoming responsible for the debts of the business being acquired. This Blog post will discuss the exceptions to the general rule and provide guidance on avoiding successor liability when purchasing a business.